Altisource Portfolio Solutions (NASDAQ:ASPS) Raised to Buy at Wall Street Zen

Altisource Portfolio Solutions (NASDAQ:ASPS) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Altisource Portfolio Solutions Trading Down 4.2%

Shares of ASPS opened at $11.50 on Friday. The business’s 50-day moving average price is $9.47 and its 200 day moving average price is $7.49. The stock has a market capitalization of $127.88 million, a P/E ratio of -2.64 and a beta of 0.18. Altisource Portfolio Solutions has a 1-year low of $3.46 and a 1-year high of $15.96.

Altisource Portfolio Solutions (NASDAQ:ASPS) last issued its quarterly earnings results on Thursday, July 24th. The business services provider reported $0.14 earnings per share for the quarter. The company had revenue of $40.79 million during the quarter.

Hedge Funds Weigh In On Altisource Portfolio Solutions

A number of institutional investors have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in Altisource Portfolio Solutions in the 1st quarter worth about $13,442,000. Nantahala Capital Management LLC increased its stake in Altisource Portfolio Solutions by 16.4% in the 1st quarter. Nantahala Capital Management LLC now owns 2,477,312 shares of the business services provider’s stock worth $1,687,000 after purchasing an additional 349,028 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in Altisource Portfolio Solutions during the 1st quarter worth about $214,000. XTX Topco Ltd boosted its position in Altisource Portfolio Solutions by 306.4% during the 1st quarter. XTX Topco Ltd now owns 80,818 shares of the business services provider’s stock worth $55,000 after acquiring an additional 60,933 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new stake in Altisource Portfolio Solutions during the 4th quarter worth about $302,000. Hedge funds and other institutional investors own 41.36% of the company’s stock.

Altisource Portfolio Solutions Company Profile

Altisource Portfolio Solutions SA operates as an integrated service provider and marketplace for the real estate and mortgage industries in the United States and internationally. It operates through Servicer and Real Estate, and Origination segments. The Servicer and Real Estate segment offers property preservation, inspection, title insurance and settlement, real estate valuation, foreclosure trustee, and residential and commercial construction inspection and risk mitigation services.